REGISTERED NUMBER: SC606620 (Scotland)

Financial Statements

for the Year Ended 31 October 2025

for

O'Callaghan Optical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M E F O'Callaghan

REGISTERED OFFICE:

Radleigh House 1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC606620 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Intangible assets

3

19,200

25,600

Tangible assets

4

4,894

7,549

24,094

33,149

CURRENT ASSETS

Stocks

9,539

8,997

Debtors

5

3,412

2,612

Cash at bank and in hand

24,433

15,994

37,384

27,603

CREDITORS

Amounts falling due within one year

6

56,367

58,736

NET CURRENT LIABILITIES

(18,983

)

(31,133

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,111

2,016

PROVISIONS FOR LIABILITIES

930

1,434

NET ASSETS

4,181

582

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

4,081

482

SHAREHOLDERS' FUNDS

4,181

582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2026 and were signed by:

M E F O'Callaghan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Revenue represents the amounts received from Eye Examinations and Eyecare sold.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset of its estimated useful life:

Plant and machinery - 25% straight line

Fixtures and fittings - 25% straight line

Computer equipment - 33% straight line

Inventories

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

64,000

AMORTISATION

At 1 November 2024

38,400

Amortisation for year

6,400

At 31 October 2025

44,800

NET BOOK VALUE

At 31 October 2025

19,200

At 31 October 2024

25,600

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2024

16,082

18,445

4,612

39,139

Additions

-

-

1,142

1,142

At 31 October 2025

16,082

18,445

5,754

40,281

DEPRECIATION

At 1 November 2024

10,482

17,816

3,292

31,590

Charge for year

2,447

587

763

3,797

At 31 October 2025

12,929

18,403

4,055

35,387

NET BOOK VALUE

At 31 October 2025

3,153

42

1,699

4,894

At 31 October 2024

5,600

629

1,320

7,549

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

3,412

2,612

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

174

1,750

Taxation and social security

12,671

9,534

Other creditors

43,522

47,452

56,367

58,736

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100